October 31, 2003

 

 

Brunei To Develop Its High-Potential Fisheries Industry

 

Investment opportunities in the fisheries industry have a wide potential to be developed and explored by local and joint venture firms as part of Brunei's government effort to increase the contribution of fisheries to the national GDP. This could be achieved through the Department of Fisheries, and Ministry of Industry and Primary Resources creating opportunities for more investments in this sector.

 

According to a brochure, "Investment Opportunities In Fisheries Industry Brunei Darussalam", of the Department of Fisheries, the government gives supportive facilities and incentives and encourages participation of new operators either from the locals or as joint ventures and gives technical guidance and assistance for the present operators to realise their maximum potential and promoting the establishment of more downstream processing industries.

 

The country has tremendous potential in the aquaculture, capture fisheries and processing sectors. In regards to aquaculture, Brunei Darussalam has tremendous potential considering several factors of the highly suitable environment e.g. clean environment, unpolluted waterways and no typhoon, generous government support in start up and operation, free from OIE notifiable shrimp diseases such as white spot syndrome virus (WSSV), taura syndrome virus (TSV) and yellow head virus (YSV) and is politically and economically stable.

 

The opportunities in aquaculture are in shrimp farming, offshore cages and in ornamental fish production. The introduction of L.stylirostris shrimp species revolutionised the shrimp industry of the country by increasing the productivity and sustainability of shrimp farms.

 

Offshore cages have good potential due to clean and unpolluted offshore areas.

 

There is also a good opportunity in the production of ornamental fish especially the Brunei Beauty (Betta masrostoma) that the Department of Fisheries has successfully breed in captivity and has the technology available for commercial production.

 

Meanwhile, seafood processing industry is another lucrative business venture for investment as the country food products are regarded as synonymous with high quality and "halal" both locally and overseas market. It is relatively an underdeveloped sector and therefore very low-level competition, large established local market to start with and available prepared industrial sites with required basic infrastructure.

 

With such opportunities the government also encourage the participation of local and joint venture for the development of multi-facilities processing HUB in the form of processing plants and landing facilities. Government investments include the establishment of aquaculture shrimp freezing plant, fish freezing plan, canning factory and other seafood processing activities.

 

The industrial sites have been identified and gazetted to government agencies. These areas are provided with basic infrastructure such as prepared land sites. Technical assistance and health certification are also available to support the post-harvest establishment.

 

The Fisheries Department will continue to provide the technical assistant to accelerate the implementation of the project. The Department will also be giving training for new comers involved in this venture and at the same time give advisory and consultation service to farmers.

 

So far, the market linkages for groupers (fish) and marine shrimps have been established with overseas market such as Japan, Hong Kong, Singapore and United States of America where they are rated as top quality and command high prices.